Bill Gates: ''The ol' dollar, it's gonna go down.''

I don't have a whole lot to add at this point, but HOLY CRAP!

I only recently tripped over this vid: video.google.ca...
Which comments on how important it is the the US that all oil is being traded in American Dollars, yet it almost flipped over to Euros and likely sparked the main motivation for invading Iraq.

I really have to stop ignoring 'ol Gates, eh?

~~

talking about Warren Buffett

here's an article addressing his new strategy of looking outside the US for takeover targets & acquisitions of businesses
www.finanznachrichten.de...

second: both Gates and Buffett have committed their fortunes to humanitarian
projects worldwide
(both these 'new wrinkles' are more current than the January 2006 thread starter reference points...about the declining dollar & how smart money is hedging the potential decline)

Then there's this:
Article; "NeoCons are Busy Covering their Asse(t)s"

shelter.inkom.hr...

(snip)
The NeoCons claim their policies of endless war and huge deficits are going to preserve the 'American way of life', but their personal actions must make anyone wonder whether they believe what they're telling the American people. If their policies sink the U.S., don't expect them to go down with the ship. They'll be enjoying the safety and stability of Europe where they're now stashing money and buying houses.

in the body of the article there are links concerning neocons like Perle & Feith & Ledeen and houses or villas in Italy and France, etc etc

You might find other articles of interest on the above link,
Croatia? as a safe haven? for example

peace

quote
"You might find other articles of interest on the above link,
Croatia? as a safe haven? for example"


Well last year Dick Chaney and his wife visited Dubrovnik(Croatia).As the local press said it,it was Chaney's wife's wish to go.
Maybe i'm jumping to conclusions!?

All kind's of millionaire are buying real-estate in Croatia with support of our government(privatizations and such).

Sad thing from my point of view.

current exchange rate for the US dollar are as follows:

(source for figures XE.com )

1.00 EUR (Euro) = 1.28340 USD(United States Dollars)
1 EUR = 1.28340 USD 1 USD = 0.779180 EUR

1.00 GBP (United Kingdom Pounds) = 1.90571 USD(United States Dollars)
1 GBP = 1.90571 USD 1 USD = 0.524740 GBP

1.00 CAD(Canada Dollars) = 0.905756 USD(United States Dollars)
1 CAD = 0.905756 USD 1 USD = 1.10405 CAD

1.00 AUD(Australia Dollars) = 0.767048 USD(United States Dollars)
1 AUD = 0.767048 USD 1 USD = 1.30370 AUD

1.00 CHF(Switzerland Francs) = 0.812876 USD(United States Dollars)
1 CHF = 0.812876 USD 1 USD = 1.23020 CHF

1.00 JPY(Japan Yen) = 0.00854007 USD(United States Dollars)
1 JPY = 0.00854007 USD 1 USD = 117.095 JPY
XE.com

It will be interesting to see how these figures vary in the coming weeks and months. If Bill gates is right we should see these numbers continue to fall for the USD.

Perhaps it's me here being stupid, but why is the pound one of or the strongest currency?

Originally posted by Knights
Perhaps it's me here being stupid, but why is the pound one of or the strongest currency?

not stupid at all... It is a question that I dont really think I can answer.. but I am going to try. I found an article that talks about the pound being strong... but the article is based more around the comparison between the pound and the Euro; not the USD. But it still may have some relevance.

Pound strong, Euro foolish
The pound has appreciated in a way that five years ago no one predicted. Today it stands at 110 on its index against a basket of other main currencies, compared with 100 in 1990 when we were being readied for the exchange rate mechanism and about 85 from when we left it late in 1992 until the end of 1996. By contrast the Deutschemark (since January 1999 the same as the euro) has fallen in a way few predicted. In early 1995 there were 1.40 DM per $; now there are 2.05, a fall of about a third. Even compared with its average from 1990 to 1994, about 1.60, it is a fall of a fifth. Just to complete the picture, the pound -paradoxically you might think- has not moved much against the dollar since we left the ERM; then it fell to around 1.50 $ per £ since when it has almost invariably moved in the range of 1.45-1.65.

rest of article at www.euro-know.org..." target="_blank" class="postlink" rel="nofollow">euro-know.org

If I read it right it basiclly comes down to a link against the Euro. If the Euro stays lower then the pound stays higher. But to get a real understanding of how this has come to be you should read the article. I dont know enough one way or the other to really say whether I agree with this assessment or not.

There is also an article from Yahoo.com that has another angle. I am using this article because it illustrates another reason for the UK's currency movements. There are tons of reasons really that can determine and be responsible for the flux of any countries currencies(whether it be local or global events and trends that are the herald of said rises and falls of said economy)---if that made ANY snese what so ever...lol. But in the last 20 days the Pound has been really strong. and this article sites lending data as the current cause.

Wednesday August 30, 12:00 PM
Forex - Pound rises to 20-day high vs dollar after strong UK lending data UPDATE
(Updating to add further details)
LONDON (AFX) - The pound rose to a 20-day high against the dollar after figures released this morning showed UK mortgage lending surged in July, adding to expectations that the Bank of England will raise interest rates again in the autumn.
At 11.25 am, the pound was trading at 1.9034 against the dollar after earlier hitting a 20-day high of 1.9048. The euro meanwhile fell to 0.6740 against the pound, just off an earlier low of 0.6735 stg and compared with a level of around 0.6748 before the data release.
UK net mortgage lending jumped by 9.8 bln stg in July, the highest level since the all-time-high of 9.97 bln stg set in September 2003 and well above analysts' forecasts for a more moderate rise of 9.0 bln, data from the Bank of England showed.
On top of that, approvals for house purchases, which are often seen as a good indicator of future demand, rose to 120,000 during the month, the highest level since January.

rest of article at uk.biz.yahoo.com

I hope this helps alittle bit for you knights.

thanks for your time,
TONE23

[edit on 9/3/2006 by TONE23]

Doesn't look very good for the US, nor don't I understand why there's so little US media attention for this subject.

www.suntimes.com...


If we don't immediately start dealing with our financial problems, the comptroller says, we risk the fate of the Roman empire, once the most powerful on the face of the globe.

Additional information:
US comptroller general David Walker: A 'fiscal hurricane' on the horizon

Federal Report by Professor Kotlikoff, ex advisor of Reagan: Is the US bankrupt? (PDF)

US House of Representatives member Ron Paul: The End of Dollar Hegemony

Mdv2,

It really sends a chill down my spine when I read about just how far in debt we really are as a nation. One fo the things from that article that really stuck out at me was this:

• Every newborn arrives with an immediate debt of $156,000 -- fiscal child abuse!

source: suntimes.com

Are you frickin kidding me! $156,000 is what our children are born into? How in the world do they figure that out? They couldve done without the "fiscal child abuse" dramataline that followed the stats... but thats just me. But if this number is true then that really is an alarm bell that should be going off loud and clear. But we know why it isnt.

I just cant help but wonder what is running through the heads of our financial leadership. Are they oblivious to the many warning signs?...Probably not. So are they gutting our economy on purpose and jumping ship like rats?

The problem is that there are SO many variables that there is no easy answer. Energy is tied in with finance... which is tied into poltricks... which is tied into.. foreign and domestic policies and programs...which is tied into...etc. Even if all this can be figured out to a new formula, no matter how well we adjust the budget, we are not moving away from fossil fuels anytime soon. This oblviously effects our foreign policy.Which effects our budget for our military spending. Which, in turn effects the other aspects of the budget. And on and on and on. AAAACKKK!!! its making my mind into mush this morning...lol

Too early; must get coffee....

thanks for your time,
TONE23

Originally posted by TONE23
Mdv2,

• Every newborn arrives with an immediate debt of $156,000 -- fiscal child abuse!

source: suntimes.com

Are you frickin kidding me! $156,000 is what our children are born into? How in the world do they figure that out? They couldve done without the "fiscal child abuse" dramataline that followed the stats... but thats just me. But if this number is true then that really is an alarm bell that should be going off loud and clear. But we know why it isnt.

The amount of $156,000 has probably been calculated based on the expected future debt- and birth rate. You say they could have done it without any drama, but the point is that the Bush Administration doesn't want to see how bad the situation actually is.

As long as no one speaks up, the ship will go down without any media agencies reporting it. Even though I live outside the US, I have the feeling this serious problem has yet been subjected to discussion more often outside the US than in the US, which is ridiculous.


I've just been able to find an interview with Walker on the radio, you migh want to listen, it's easier to wake up with than by reading

Few have monitored the country's financial pulse as closely as David Walker -- Comptroller General at the Government Accountability Office. When he says America's heading toward financial Armageddon, it's time to take notice.

Though President Bush has announced some rosy budget numbers this month, Walker is still crying "fire" over America's giant federal deficit.

Hear a conversation with U.S. Comptroller General David Walker about what he calls a chilling picture of America's financial future.

David Walker, Comptroller General at the Government Accountability Office, a 3,200-employee government body that monitors all federal programs. He was appointed by President Clinton for a 15-year term in 1998
Phillip Swagel, former chief of staff at the Council of Economic Advisers under George W. Bush from 2002 until February, 2005. He is currently a resident scholar at the American Enterprise Institute.

Radio interview:
www.onpointradio.org...

• Sixty percent of our federal spending is now mandatory, primarily Medicare, Social Security, interest on the national debt, programs over which the budget process has no control.

• While the 2005 budget deficit was widely reported at $318 billion, on an operating basis as most companies report, the year's deficit was easily double that amount.

• We finance our deficits by borrowing -- and now 50 percent of our public debt is owned by foreigners.

• Interest on the national debt is expected to be about $200 billion this year, about the same as we spend on Medicare.

• We currently have a $46 trillion dollar liability for future promises of Medicare and Social Security, and the new drug bill will easily add another $8 trillion in promises.

• In the next 25 years, Medicare spending will grow at nearly five times the rate of economic growth.

• Every newborn arrives with an immediate debt of $156,000 -- fiscal child abuse!

Source

[edit on 4-9-2006 by Mdv2]

Well, Its been a week...lets see how the numbers look this time shall we:

1.00 EUR (Euro) = 1.26720 USD (United States Dollars)
1 EUR = 1.26720 USD 1 USD = 0.789140 EUR

1.00 GBP (United Kingdom Pounds) = 1.86550 USD (United States Dollars)
1 GBP = 1.86550 USD 1 USD = 0.536050 GBP

1.00 CAD (Canada Dollars) = 0.892658 USD (United States Dollars)
1 CAD = 0.892658 USD 1 USD = 1.12025 CAD

1.00 AUD (Australia Dollars) = 0.753892 USD (United States Dollars)
1 AUD = 0.753892 USD 1 USD = 1.32645 AUD

1.00 CHF (Switzerland Francs) = 0.801700 USD (United States Dollars)
1 CHF = 0.801700 USD 1 USD = 1.24735 CHF

1.00 JPY (Japan Yen) = 0.00855103 USD (United States Dollars)
1 JPY = 0.00855103 USD 1 USD = 116.945 JPY

source: xe.com

compared to last week:

1.00 EUR (Euro) = 1.28340 USD(United States Dollars)
1 EUR = 1.28340 USD 1 USD = 0.779180 EUR

1.00 GBP (United Kingdom Pounds) = 1.90571 USD(United States Dollars)
1 GBP = 1.90571 USD 1 USD = 0.524740 GBP

1.00 CAD(Canada Dollars) = 0.905756 USD(United States Dollars)
1 CAD = 0.905756 USD 1 USD = 1.10405 CAD

1.00 AUD(Australia Dollars) = 0.767048 USD(United States Dollars)
1 AUD = 0.767048 USD 1 USD = 1.30370 AUD

1.00 CHF(Switzerland Francs) = 0.812876 USD(United States Dollars)
1 CHF = 0.812876 USD 1 USD = 1.23020 CHF

1.00 JPY(Japan Yen) = 0.00854007 USD(United States Dollars)
1 JPY = 0.00854007 USD 1 USD = 117.095 JPY

source: xe.com

The dollar is actually looking alittle stronger this week. Not much but alittle. It will be interesting to see how this continues over the next weeks and months. I will update again next week to see where we are.

Tone23,

I am aware of the recent appreciation of the Dollar against the Euro, though it's not possible to draw a much saying conclusion on a basis of just one week. When the Euro was firstly introduced it started at approx $1 = €.80 and by now it's approx. $1 = €1.25.

can anyone find anymore information about those bank "workshops" that were mentioned?

i'm playing this out in my head and it doesn't sound possible. Keeping people from their assets stored in safty deposit boxes? are they going to close the doors to keep frantic customers out, who like myself will probably end up taking thier safty deposit box by force?

I dare those punks to try something like that, keep me from my money. we'll see.

on a positive note, considering the population and how weak and docile they are, i should be getting more gold than i deposited seeing as how i will be one of the few that will not take this on my knees.

I was raised in the bush, this does not bother me at all, i cant wait. finally some excitment and adventure, i'm tired of being one of the walking dead.

Originally posted by Mdv2
Tone23,

I am aware of the recent appreciation of the Dollar against the Euro, though it's not possible to draw a much saying conclusion on a basis of just one week. When the Euro was firstly introduced it started at approx $1 = €.80 and by now it's approx. $1 = €1.25.

lol... sorry mdv2... I was not trying to draw conclusions based on just one week. Which is why I said I would update it again next week... and the week after...etc..
I plan on keeping track of this on a weekly basis for at least the next year(call it a pet project)

but thanks for the laugh this morning mdv2...

orignal quote by: tom goose
can anyone find anymore information about those bank "workshops" that were mentioned?

I am not sure what you mean by these "workshops". Maybe mdv2 knows a bit about this.

It's night over here and I'm leaving for a nice party. Will try to answer your question tomorrow. Tone23, if you need any help on your project, I'd be glad to help you!

Originally posted by Mdv2
It's night over here and I'm leaving for a nice party. Will try to answer your question tomorrow. Tone23, if you need any help on your project, I'd be glad to help you!

great thanks... Ill keep digging up the numbers, and, if you can help explain them.. As you are obviously more steeped in financial knowledge than I.

have fun at the party...

Originally posted by TONE23

I am not sure what you mean by these "workshops". Maybe mdv2 knows a bit about this.

sorry, the "work shops" were not from the link posted in the first thread like i thought they were. they were from a different page i found on it.

A family member from Irvine, CA (who's a branch manager at Bank of America) told us two weeks ago that her bank held a "workshop" where the last two days were dedicated to discussing their bank's new security measures.

www.snopes.com...

Originally posted by Mdv2

bellaciao.org...

Bank Of America and Compass Bank managers (probably all other U.S. banks too) have been instructing their employees in the last few weeks on how to respond to customer demands in the event of a collapse of the U.S. economy - specifically telling the employees that only agents from the Department Of Homeland Security will have authority to decide what belongings customers may have from their safe deposit boxes - and that precious metals and other valuables will not be released to U.S. citizens. The bank employees have been strictly prohibited from revealing the banks’ new "guidelines" to anyone. (however, employees have been talking to friends and family)

the first link given in the thread,

Wow let's all take investment advice from the guy that gave us Microsoft Bob and Microsoft Windows an operating systems that;s practically a full employment act for hackers.

Well let's do something unusual here and look at some recent facts, as opposed to stupid, ill informed internet screeds written nine month ago.

LONDON (AP) -- The U.S. dollar was mixed against other major currencies in late European trading Monday. Gold fell sharply. Analysts said gold prices declined following a report that Iran was considering complying -- at least temporarily -- with the U.N. Security Council's demand that it suspend its uranium enrichment program.
The euro bought US$1.2685, up from US$1.2676 late Friday.
Other dollar rates:
--117.77 Japanese yen, up from 116.87
--1.2459 Swiss francs, down from 1.2468
--1.1212 Canadian dollars, up from 1.1204
The British pound traded at US$1.8617, down from US$1.8649.
Gold closed in London at US$585.30, down from US$609.00 late Friday.
In Zurich, gold closed at US$585.55, down from US$609.10.
Gold fell US$18.70 in Hong Kong to US$596.20.
Silver closed in London at US$11.22 per troy ounce, down from US$12.08.
biz.yahoo.com...

So gold has lost about %20 percent since May, That makes America's housing market look like the running of the bulls!. Wow! Gold is a great investment! if you had taken the bait and invested in gold in 1981 (its nominal peak) , your portfolio would be worth about 70% of what you invested before taking inflation into account and about 30% after inflation.
In 1981 the DJIA was less than 1000, today's it's over 11,000
Gold's down, oil's down... Yeah, we're all gonna die!

Dopes that believe stuff like this are doomed to remain poor. Meanwhile I'm sitting on 250K in stocks and 300K in cash and CD's and I ain't working, enjoying my new home and pool in South Florida. All of this thanks to my INVESTING IN AMERICA.

[edit on 11-9-2006 by Number23]

Originally posted by Number23
Wow let's all take investment advice from the guy that gave us Microsoft Bob and Microsoft Windows an operating systems that;s practically a full employment act for hackers.

Well, not that I believe him, but hes a hell of alot more successful than ANY of us will ever be.

original quote by:Number23
Well let's do something unusual here and look at some recent facts, as opposed to stupid, ill informed internet screeds written nine month ago.

Havnt I been posting facts? I dont know what the dollar is going to do. But I am going to track it on this thread for the coming weeks, months, year. I have been posting the numbers for the currency exchange aspect.. but If you would like to help; Maybe you could post the 'precious metals" numbers on a weekly basis(or whenever you have the time.)

Gold closed in London at US$585.30, down from US$609.00 late Friday.
In Zurich, gold closed at US$585.55, down from US$609.10.
Gold fell US$18.70 in Hong Kong to US$596.20.
Silver closed in London at US$11.22 per troy ounce, down from US$12.08.
biz.yahoo.com...

thanks for those numbers

original quote by: Number23
Dopes that believe stuff like this are doomed to remain poor. Meanwhile I'm sitting on 250K in stocks and 300K in cash and CD's and I ain't working, enjoying my new home and pool in South Florida. All of this thanks to my INVESTING IN AMERICA.

While I appreciate your input; you have kinda overstepped yourself on this part.
The biggest "DOPE" who believes this is Bill Gates... and he is hardly poor. As A fellow South Floridian(Keys-but originally from Philly)) I am also financially fairly secure. And even with our standing being what it is.. we are only one or two bad decisions from being homeless. Even without bad decisions there are factors that are beyond our control that could wipe out everything you own in a heartbeat. Point is; dont assume that people are dopes because they are poor. Not everyone is afforded opportunity and thusly we should be humble in that we did get those chances. Not condenscend to those that are less fortunate. Not trying to lecture you and all...just trying to keep it on the up and up...

thank you for your time,

TONE23

Originally posted by Number23
Wow let's all take investment advice from the guy that gave us Microsoft Bob and Microsoft Windows an operating systems that;s practically a full employment act for hackers.

Your personal opinion on Microsoft is pretty irrelevant, and as Tone said, he's been more successfull then you, I, and probably all ATS members will ever be.

LONDON (AP) -- The U.S. dollar was mixed against other major currencies in late European trading Monday. Gold fell sharply. Analysts said gold prices declined following a report that Iran was considering complying -- at least temporarily -- with the U.N. Security Council's demand that it suspend its uranium enrichment program.
The euro bought US$1.2685, up from US$1.2676 late Friday.
Other dollar rates:
--117.77 Japanese yen, up from 116.87
--1.2459 Swiss francs, down from 1.2468
--1.1212 Canadian dollars, up from 1.1204
The British pound traded at US$1.8617, down from US$1.8649.
Gold closed in London at US$585.30, down from US$609.00 late Friday.
In Zurich, gold closed at US$585.55, down from US$609.10.
Gold fell US$18.70 in Hong Kong to US$596.20.
Silver closed in London at US$11.22 per troy ounce, down from US$12.08.
biz.yahoo.com...

You don't purchase non tangible gold to ''keep'' for a long period of time. Its a process of continuously buying and selling, not as you are pretending to ''keep'' it in your stock account for over three months.

In times of crisis you should consider to invest in tangible commodities such as gold and silver, as those won't lose their value, in contrast to the Dollar or the European Monetary Unit.

2000-2006 gold chart:



What conclusion may we draw, number 23?


[edit on 11-9-2006 by Mdv2]

Originally posted by Mdv2
[You don't purchase non tangible gold to ''keep'' for a long period of time. Its a process of continuously buying and selling, not as you are pretending to ''keep'' it in your stock account for over three months.

In times of crisis you should consider to invest in tangible commodities such as gold and silver, as those won't lose their value, in contrast to the Dollar or the European Monetary Unit.

2000-2006 gold chart:

What conclusion may we draw, number 23?

This place really is the land dopes and liars. Hey you know, you're right, gold is a great investment! You don't mind if I check to see how its done vs. the Dow Jones...?



Posting a graph showing gold's price without comparing it to some other investment vehicle is meaningless. So I'm left to conclude that your little graph was either a demonstration of ignorance or an attempt at deception. Would you care to clarify?

[edit on 11-9-2006 by Number23]